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Here's an Interesting Auction Item. What can you tell us about it? UPDATED WITH ANSWER

keyman64keyman64 Posts: 15,452 ✭✭✭✭✭
edited June 12, 2021 10:10AM in U.S. Coin Forum

Maybe about the current status of the coin as well? ;)
https://auctions.stacksbowers.com/lots/view/3-6Y672/1928-s-mercury-dime-fs-501-large-s-ms-66-fb-pcgs-cac
Edit: This is not my coin. I did not consign it. I did not buy it. I have never owned it or ever had an interest in it. It does seem pretty nice though.

ANSWER
1. The Auction Lot Description describes it as a Large S FS-501. The coin is NOT a Large S. The coin also was not attributed on the holder at the time of the auction, nor should it have been. The coin sold for $9987.50. Did the owner think they were getting a Large S? Based on the lot description, I am guessing they did, since the owner has a Merc complete variety set.
2. The coin has been re-holdered in the owner's special label so I also might assume that they tried to get it attributed as the Large S. It is not a Large S and PCGS did not attribute it as such.
3. The coin has been listed for sale for quite a long time, going back to last year if I recall and is listed for a ~36.7% profit. The coin has not moved. And no, it is not being sold as a Large S.

Granted, had it been a Large S and attributed as such, it could have also filled the normal slot for a Merc 1928-S and I believe that's what it was used for at one time, since it was not the Large S.

Coins and their history. It can be interesting to find things like this.

"If it's not fun, it's not worth it." - KeyMan64
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners. :smile:

Comments

  • truebloodtrueblood Posts: 609 ✭✭✭✭

    Beautiful and a sincere congrats on sanguine it
    What can you tell us about it?

  • keyman64keyman64 Posts: 15,452 ✭✭✭✭✭

    I will wait a while before sharing. I doubt everything will be figured out. There are plenty of knowledgeable people here though.

    "If it's not fun, it's not worth it." - KeyMan64
    Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners. :smile:
  • keyman64keyman64 Posts: 15,452 ✭✭✭✭✭

    Okay, I posted the answer. Any thoughts?

    "If it's not fun, it's not worth it." - KeyMan64
    Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners. :smile:
  • rickoricko Posts: 98,724 ✭✭✭✭✭

    That is a really nice Merc... I would think if the winner purchased it as a large S, and it is not, then the owner could have returned it as not what was offered. Cheers, RickO

  • KccoinKccoin Posts: 1,086 ✭✭✭✭✭

    If the buyer realized their mistake. taking the loss may be the honorable thing to do in their mind.

  • LanceNewmanOCCLanceNewmanOCC Posts: 19,999 ✭✭✭✭✭

    @keyman64 said:
    Okay, I posted the answer. Any thoughts?

    (ah i just now saw it is from 2017)

    makes me wonder how many people saw the coin listed as a large S but yet, it made it all the way to hammer and shipped.

    i understand sometimes with attribs on holders we can just take the word of the label but isn't wise to do so and isn't the case here.

    how many years in numismatics does it take to recognize something simple like this?

    as far as cac, they can sticker the coin no matter what someone else calls it. if they see it for the standards of what is on the label, they have no accountability in instances like this and i'm guessing/presuming the holder had no identifying sticker on it. some form just tracking the cert number and SB in-house paperwork stating large S.

    a side note: this makes me thing of the few situations over the years where someone is hired because they are liked not because they are the person for the job but having both is optimal of course but any true businessman recognizes someone that doesn't cost them money but makes it and is willing to pay them handsomely for it.

    then again, to err is human, so expecting a certain amount of mistakes comes with the territory. the busier you are, the more prone to them one is.

    good catch on your part.

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